Bank of New Hampshire trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 22.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,841 shares of the semiconductor manufacturer’s stock after selling 2,869 shares during the quarter. Bank of New Hampshire’s holdings in Broadcom were worth $3,456,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Hall Laurie J Trustee bought a new position in shares of Broadcom during the third quarter valued at about $14,787,000. Private Capital Advisors Inc. grew its stake in shares of Broadcom by 19.6% in the third quarter. Private Capital Advisors Inc. now owns 1,515 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 248 shares during the last quarter. Colton Groome Financial Advisors LLC grew its stake in shares of Broadcom by 18.0% in the third quarter. Colton Groome Financial Advisors LLC now owns 18,240 shares of the semiconductor manufacturer’s stock worth $6,406,000 after purchasing an additional 2,782 shares during the last quarter. Iowa State Bank increased its holdings in Broadcom by 0.9% during the 3rd quarter. Iowa State Bank now owns 17,884 shares of the semiconductor manufacturer’s stock valued at $6,281,000 after purchasing an additional 151 shares during the period. Finally, Eleva Capital SAS purchased a new position in Broadcom during the 3rd quarter valued at about $11,235,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Stock Up 3.7%
Shares of AVGO traded up $13.30 on Tuesday, reaching $375.81. The stock had a trading volume of 30,765,540 shares, compared to its average volume of 25,155,971. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 48.00 and a beta of 1.46. The company has a 50-day simple moving average of $372.33 and a 200-day simple moving average of $381.36.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is presently 33.21%.
Analyst Ratings Changes
Several equities research analysts have weighed in on AVGO shares. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Cantor Fitzgerald boosted their target price on Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Jefferies Financial Group began coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 target price for the company. Bank of America dropped their price target on Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $527.20.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Potential $42 billion Anthropic financing deal: Reports indicate Broadcom may be arranging a large financing package tied to Anthropic’s purchase of AI chips and related infrastructure. If completed, the deal could provide significant visibility into future AI revenue and reinforce Broadcom’s role as a key supplier to hyperscale customers. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic Why Is Broadcom Lining Up a Large AI Chip Financing Deal?
- Positive Sentiment: Custom-chip momentum supports the AI growth story: Marvell’s investor-day discussion of custom AI silicon lifted sentiment across the sector, highlighting demand for specialized accelerators and networking products. Broadcom is viewed as one of the leading design partners for cloud companies developing their own chips. Marvell Rallies as Investor Day Presses the Custom AI Silicon Case
- Positive Sentiment: Analysts remain constructive on AI demand: Recent coverage emphasizes Broadcom’s sharply accelerating AI semiconductor revenue, including reported year-over-year growth above 200%, and argues that data-center power constraints may affect competitors and project timing more than Broadcom and Nvidia. Nvidia and Broadcom May Be Protected From AI Power Shortage
- Neutral Sentiment: Options activity signals bullish positioning: Investors purchased approximately 426,000 Broadcom call options, about 34% above typical daily call volume. This indicates increased speculative interest but does not guarantee sustained buying in the stock.
- Negative Sentiment: Financing and valuation risks remain: Critics question whether Anthropic-related arrangements could represent circular financing, in which supplier financing indirectly supports customer purchases. Broadcom also trades at a premium multiple, making the shares vulnerable if AI growth slows or the reported deal fails to materialize. Broadcom Has a New Problem: Anthropic
Insider Activity
In related news, insider Mark Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider owned 194,989 shares of the company’s stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 51,890 shares of company stock valued at $20,241,368. 1.90% of the stock is owned by company insiders.
About Broadcom
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.
The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.
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